Savings Account FAQs & Basics

Building Savings vs. Pay Down Debt: Which is Better When You Have Extra Cash Find out whether you should prioritize savings or paying down debt when you have extra cash available to improve your financial situation. NCUSIF Deposit Insurance: How Your Money in Credit Union is Protected Photo of Thomas (TJ) Porter Thomas (TJ) Porter NCUSIF Deposit Insurance: How Your Money in Credit Union is Protected One of the many reasons that people keep their money in a bank account is that...

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Deposit Insurance Fund (DIF): Protecting Deposits in Addition to FDIC Insurance – in Massachusetts Learn how the Deposit Insurance Fund (DIF) works in conjunction with deposit insurance from the FDIC to protect depositors at certain Massachusetts banks. Where to Find the Cash to Build a Last-Minute Emergency Fund Learn how to build a last-minute emergency fund with cash flow that you can free up in the next month or two. What is a Sinking Fund? How to Use It as Part of Your Budget Photo of Kevin Mercadante Kevin Mercadante What is a Sinking Fund? How to Use It as Part of Your Budget Just about everyone is familiar with the key concept of a budget. If it’s... How Much You Should Save Up to Pay for Graduate School Tuition Photo of Rebecca Lake Rebecca Lake How Much You Should Save Up to Pay for Graduate School Tuition Going to graduate school and earning an advanced degree could help you get... How Much to Save Up for a Disney Vacation Find out how much you need to save up in order to pay for a Disney vacation, based on the flight, hotel accommodations, and dining options on your trip. Average Cost of College Tuition: How Much Do You Have to Save? Find out the average cost of college tuition, in addition to room and board, so that you can estimate how much to save for your children‘s future education. Ultra Short-Term Bonds vs. Savings & CDs: Which Offer Better Returns? Photo of Kevin Mercadante Kevin Mercadante Ultra Short-Term Bonds vs. Savings & CDs: Which Offer Better Returns? When looking for a place to park short-term funds, you may often turn to bank... How to Prepare Financially and Save for Maternity Leave Photo of Valencia Patrice Higuera Valencia Patrice Higuera How to Prepare Financially and Save for Maternity Leave Being pregnant is an exciting time. You might spend your free time... How Much to Save for the Perfect Honeymoon Without Going Into Debt Learn how you can save for the perfect honeymoon vacation to celebrate your marriage without taking on a large amount of debt -- including tips to cut costs. How to Beat the 52-Week Savings Challenge Find out how you can use the 52-Week Savings Challenge to build a habit of saving and reaching a financial goal after just one year. How to Set Up a Savings Account for a Teenager Photo of Valencia Patrice Higuera Valencia Patrice Higuera How to Set Up a Savings Account for a Teenager Teaching kids how to save money is an important step for future financial... 529 Plan vs. Coverdell Education Savings Account (ESA): Which Is Better For Future Education Expenses? Photo of Lance Cothern Lance Cothern 529 Plan vs. Coverdell Education Savings Account (ESA): Which Is Better For Future Education Expenses? Saving to help put your kids through college is an enormous... The Best Ways to Use Your Year-End Bonus Check Learn about the best ways to use the big year-end bonus check so that you can use it to improve your finances - by increasing your savings or cutting down debt. Should You Always Switch Banks in the Best Savings Rates? Find out whether it is smart to always to moving your money between banks just so that you could earn the best of the best savings rates at this very moment. How to Keep a Secret Bank Account Photo of Aja McClanahan Aja McClanahan How to Keep a Secret Bank Account Have you ever needed a a secret bank account? That’s right: A bank account that... Foreign Bank Accounts: Reporting & Tax Rules That You Have to Worry About Photo of Lance Cothern Lance Cothern Foreign Bank Accounts: Reporting & Tax Rules That You Have to Worry About Chances are you’ve heard stories about rich people hiding their money in Swiss bank... How Much to Save Up Before Moving Out On Your Own As someone who wants to move out of the parents‘ house, find out exactly how much savings you should have before hitting this key life milestone. Are Rewards Savings Accounts Better Than High Yield Savings Accounts? Find out whether rewards savings accounts are can provide better interest earnings that online savings accounts that simply offer competitive rates. How to Build Retirement Savings When You Only Earn $30,000 Per Year Photo of John Csiszar John Csiszar How to Build Retirement Savings When You Only Earn $30,000 Per Year Let’s face it: Saving for retirement can be a challenge. Lots of Americans live... Should You Consider a Safe Box For Your Home? Photo of Ben Luthi Ben Luthi Should You Consider a Safe Box For Your Home? It's commendable that you're protecting your money by stashing it in a savings... How to Set Up a Wedding Savings Account Learn how you can create a the right savings account that will help you establish a wedding fund, including what account to pick and how to stay on track. What Would Be Considered a Financial Emergency? Now that you've been able to save up for an emergency fund, learn about the different situations when you it makes sense to use that money. The Dangers of Keeping Too Much Cash at Home Photo of Kevin Mercadante Kevin Mercadante The Dangers of Keeping Too Much Cash at Home Millions of people keep cash home rather than a savings account. For most, it’s a... Can You Pay Bills Directly from a Savings Account? Photo of Thomas (TJ) Porter Thomas (TJ) Porter Can You Pay Bills Directly from a Savings Account? Sometimes when you’re in a financial crunch you’ll need to tap your savings account... 4 Savings Strategies for People with Low Income If you don't have high income, learn about the different ways that you can still build up your savings to reach your financial goals. How Immigrants Can Open a Bank Account Without a Social Security Number As an immigrant without the traditional methods of providing a tax ID, learn how you can still open a bank account to help manage your finances in the U.S. Should Couples Open Joint Savings Accounts? Photo of Valerie Ashton Valerie Ashton Should Couples Open Joint Savings Accounts? Among the things that couples disagree or argue about, money is a top...